Eagle Bancorp (NASDAQ:EGBN) Stock Passes Above 200-Day Moving Average – Here’s Why

Eagle Bancorp, Inc. (NASDAQ:EGBN) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $21.77 and traded as high as $25.06. Eagle Bancorp shares last traded at $24.65, with a volume of 265,006 shares traded.

Analyst Ratings Changes

Several analysts recently weighed in on the company. UBS Group set a $25.00 price objective on Eagle Bancorp in a report on Tuesday, January 27th. Wall Street Zen raised shares of Eagle Bancorp from a “sell” rating to a “hold” rating in a research report on Saturday, March 14th. Zacks Research lowered shares of Eagle Bancorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Eagle Bancorp in a research report on Wednesday, January 21st. Finally, Piper Sandler increased their price objective on shares of Eagle Bancorp from $23.00 to $27.00 and gave the company a “neutral” rating in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $23.60.

Eagle Bancorp Trading Up 0.9%

The company has a debt-to-equity ratio of 0.07, a current ratio of 0.87 and a quick ratio of 0.86. The stock has a market cap of $748.37 million, a price-to-earnings ratio of -5.86 and a beta of 1.03. The company’s fifty day moving average price is $25.49 and its 200-day moving average price is $21.77.

Eagle Bancorp (NASDAQ:EGBN) last released its earnings results on Wednesday, January 21st. The financial services provider reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.37. Eagle Bancorp had a negative net margin of 20.19% and a negative return on equity of 10.93%. The company had revenue of $80.50 million during the quarter, compared to analysts’ expectations of $67.81 million. On average, research analysts expect that Eagle Bancorp, Inc. will post 2.31 EPS for the current fiscal year.

Eagle Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Monday, February 2nd were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.2%. The ex-dividend date was Monday, February 2nd. Eagle Bancorp’s payout ratio is presently -0.95%.

Hedge Funds Weigh In On Eagle Bancorp

Several hedge funds have recently made changes to their positions in EGBN. Versant Capital Management Inc grew its stake in Eagle Bancorp by 102.2% during the 3rd quarter. Versant Capital Management Inc now owns 1,490 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 753 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Eagle Bancorp by 128.6% in the fourth quarter. Farther Finance Advisors LLC now owns 1,390 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 782 shares during the last quarter. Financial Consulate Inc. purchased a new position in shares of Eagle Bancorp in the third quarter worth about $34,000. Hantz Financial Services Inc. lifted its holdings in shares of Eagle Bancorp by 298.0% during the third quarter. Hantz Financial Services Inc. now owns 3,176 shares of the financial services provider’s stock worth $64,000 after purchasing an additional 2,378 shares during the period. Finally, MAI Capital Management lifted its holdings in shares of Eagle Bancorp by 24.2% during the second quarter. MAI Capital Management now owns 3,448 shares of the financial services provider’s stock worth $67,000 after purchasing an additional 671 shares during the period. 78.03% of the stock is owned by institutional investors and hedge funds.

Eagle Bancorp Company Profile

Eagle Bancorp, Inc is the bank holding company for EagleBank, a commercial bank headquartered in Bethesda, Maryland. Since its founding in 1998, the company has focused on serving businesses and consumers in the Washington, DC metropolitan area. EagleBank operates a network of full-service branches and commercial banking centers, providing personalized financial solutions to corporate, nonprofit, real estate and individual clients.

The company’s product portfolio includes commercial real estate lending, construction and land development financing, small business administration (SBA) loans, commercial and industrial credit facilities, and residential mortgage loans.